june 25, 2013 amelia island, florida - peanut shellers · amelia island, florida topics for...
TRANSCRIPT
Presented by: James W. Monahan
Deputy Administrator, Commodity Operations Farm Service Agency
June 25, 2013 Amelia Island, Florida
Topics for Discussion
DACO Organization Procurements for Domestic Feeding Programs 2012 Crop Production and Exports Loan Activity Options for Potential Peanut Forfeitures
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AN EQUAL OPPORTUNITY EMPLOYER AND PROVIDER3
Farm Bill Updates Food, Conservation, and Energy Act of 2008 Expired
in 2012 The American Taxpayer Relief Act of 2012 Extended
the 2008 Farm Bill for One Year
Senate Passed a New Farm Bill
Voted Down in the House of Representatives 4
Procurements for Domestic Feeding Programs
FSA Purchases Peanut Products for Domestic Feeding Programs
FY 2013 Year-to-Date Peanut Product Purchases Total 19,212,480 Pounds of Product Valued at Over $21.3 Million
FY 2012, Peanut Product Purchases Totaled 29,740,960 Pounds, Valued at Over $43.1 million
5
44%
19% 3%
33% TEFAP
CSFP
NSLP
Peanut Product Procurements by Program FY 2013 Year to Date
FDPIR
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Crop Year Production (Tons)
2006 1,732,125
2007 1,836,125
2008 2,581,200
2009 1,845,825
2010 2,078,420
2011 1,829,295
2012 3,370,700
Peanut Production 2006 – 2012 Crop Years
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Peanut Exports for 2011 and 2012 Seasons (Farmer Stock Basis)
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
Aug Sep Oct Nov Dec Jan Feb Mar Apr
‘000
sho
rt to
ns
2011 2012
U.S. peanut exports year-to-date up 141 percent in 2012
2012 versus 2013 2012 Crop Year 2013 Crop Year
Estimated
Planted Acres 1,638,000 Acres 1,191,000 Acres
Yield 4,192 pounds per acre 3,800 pounds per acre
Production 6,741 million pounds 4,435 million pounds
Beginning Stocks 1,003 million pounds 2,442 million pounds
Total Supply 7,815 million pounds 6,942 million pounds
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Peanut Marketing Assistance Loans and Loan Deficiency Payments
Provide producers with short term financing at the time of harvest.
Support the orderly marketing and distribution of peanuts throughout the year.
Provide income support when market prices are below statutory levels.
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2012-Crop Loan Maturity, Selected Dates (in thousand short tons)
0
100
200
300
400
500
600
700
Jun '13 Jul '13 Aug '13 Sep '13 Oct '13
13-May-13 20-Jun-13
2012 Redemptions are Lagging
* Cumulative
0
10
20
30
40
50
60
70
80
90
100
Oct
. 5
Oct
. 19
Nov
. 2
Nov
. 16
Nov
. 30
Dec
. 14
Dec
. 28
Jan.
11
Jan.
25
Feb.
8
Feb.
22
Mar
. 8
Mar
. 22
Apr.
5
Apr.
19
May
. 3
May
. 17
May
. 31
13-J
un
Jun.
28
Jul.
12
Jul.
26
Aug.
9
23-A
ug
6-Se
p
20-S
ep
4-O
ct
18-O
ct
Perc
ent o
f pla
cem
ents
2009-11 crop avg. 2012 crop
Crop Year 2006 2007 2008 2009 2010 2011 2012
Loans Made (Million $)
581.3
473.9
730.9
599.1
630.2
490.0
791.1
Quantity Forfeited (tons)
455.51
436.23
5,905.87
2,955.60
0
0
TBD
Value Forfeited ($)
152,618
138,279
2,066,318
1,062,982
0
0
TBD
Peanut Loan Placements and Forfeitures
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What Happens When Peanuts are Forfeited?
CCC pays storage during the loan period.
Producer responsible for storage before the loan period.
CCC refunds to producer the storage paid from date all loan documents are received through the storage paid through date
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What Happens When Peanuts are Forfeited? Continued…
If the “Storage Paid Through” date is blank, CCC will begin paying storage to the warehouse on “Storage Start Date” and the producer will be billed for storage that accrues before loan documents are received.
CCC will not require a refund of load-in/handling charges.
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Commodity Credit Corporation Disposition Policy
When commodities come into CCC inventory, our general policy is to dispose of commodities as rapidly
and orderly as possible, either through third party bartering or other
direct methods such as sales or exchanges.
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Options for CCC-Owned Peanuts
Hold and Store Sell back into the market – Restricted or
Unrestricted Use Barter Ourselves or Through a Third Party Barter for Peanut Products Barter for Products Requested by the
Food and Nutrition Service and the Foreign Agricultural Service
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Barters Crop Year 2006 Through 2009 Peanut Forfeitures
Totaled 9,753 tons
Of this Quantity, 9,328 Tons were Transferred to a Third Party for Barter
The Remaining 425 Tons were Bartered Internally in Exchange for 194 tons of Peanut Butter for Use in the Domestic Feeding Programs
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Peanut Products Received in Barters
Since CCC Began Bartering Through a Third Party in September 2007, We Have Received Over 1.2 Million Cases of Peanut Butter for Use in Domestic Feeding Programs
This Peanut Butter was Valued at $18.4 Million
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Any questions? 20